Max Burton Enterprises, Inc. - Page 2

                                        - 2 -                                         

          its officers, who were also shareholders, exceeded reasonable               
               Unless otherwise indicated, all section references are to              
          the Internal Revenue Code in effect for the year in issue, and              
          all Rule references are to the Tax Court Rules of Practice and              
                                  FINDINGS OF FACT                                    
               Some of the facts have been stipulated, and the stipulated             
          facts are incorporated in our findings by this reference.  At the           
          time the petition was filed, petitioner’s principal place of                
          business was in Tacoma, Washington.  During the year in issue,              
          petitioner produced and sold stove-top grills, stove-top burner             
          covers, and other kitchen accessories.                                      
               Petitioner was incorporated in the State of Washington on              
          September 5, 1979, by Max Burton.  Max Burton was the father of             
          Linda Burton (Ms. Burton) and Alfred Burton (Mr. Burton) and the            
          husband of Evelyn Burton.  Ms. Burton was married to Robert                 
          Denovan (Denovan).                                                          
               From September 13, 1979, through June 30, 1983, Max Burton             
          served as president and treasurer, and Mr. Burton served as vice            
          president and secretary, of petitioner.  From July 1, 1983,                 
          through his death on July 3, 1997, Max Burton was president and             
          treasurer, Ms. Burton was vice president, and Mr. Burton was                
          secretary, of petitioner.  From July 7, 1987, through June 30,              

Page:  Previous  1  2  3  4  5  6  7  8  9  10  11  12  13  14  15  16  17  Next

Last modified: May 25, 2011